The commerce ministry in its latest data has said that India’s merchandise exports declined by 2.83 per cent to $33.90 billion in November 2023 as compared to $34.89 billion a year ago. Imports also declined to $54.48 billion in the month under consideration, as against $56.95 billion recorded in November 2022. However, the country's trade deficit exhibited a positive trend, narrowing to $20.58 billion in November.
According to the data, merchandise exports for the period April-November 2023 were $278.80 Billion as against $298.21 Billion during April-November 2022. Merchandise imports for the period April-November 2023 were $445.15 Billion as against $487.42 Billion during April-November 2022. The merchandise trade deficit for April-November 2023 was estimated at $166.35 Billion as against $189.21 Billion during April-November 2022.
It further stated that non-petroleum and non-gems & jewellery exports in November 2023 were $23.61 Billion as compared to $24.30 Billion in November 2022. Non- petroleum and non-gems & jewellery exports during April-November 2023 was $202.05 Billion, as compared to $206.54 Billion in April-November 2022. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports in November 2023 were $34.62 Billion as compared to $34.95 Billion in November 2022. Non-petroleum, non-gems & jewellery (gold, silver & precious metals) imports were $281.06 Billion in April-November 2023 as compared to $294.96 Billion in April-November 2022.
